New York, United States
Candex, founded in 2011, is a cutting-edge fintech master-vendor platform headquartered in the United States that targets the inefficiencies of traditional procurement systems.
By managing 70-80% of vendors that only account for 3-5% of spend, Candex enumerates its promise to large organizations to streamline purchasing from irregular, one-time suppliers using existing P2P processes. The platform simplifies cross-border, cross-currency transactions while ensuring compliance with tax and regulatory norms. This is achieved through seamless integration within existing e-procurement systems via APIs, or through bulk uploads.
The company's robust solution attracted a $45.00M Series B investment announced on 28 November 2023, with participation from prominent investors like American Express Ventures, Craft Ventures, Edenred Capital Partners, NFX, Altos Ventures, Goldman Sachs Asset Management, WiL (World Innovation Lab), and JP Morgan.
Candex is positioned to grow further within its primary sectors: Cloud Infrastructure, Fintech, and Payments.
